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June 07, 2012 at 18:30 PM EDT
Daily ETF Roundup: EWY Inches Higher, UNG Sinks After Inventory Data
Domestic equities broadly got off to a strong start only to fall victim to profit taking pressures in the final hours of trading. Stimulus hopes and employment data paved the way for back-and-forth trading for major equity indexes on the home front; the Dow Jones Industrial Average managed to clinch a gain of 0.37% as the closing bell rang , while the Nasdaq and S&P 500 Index both finished the day with minor losses in red territory [see also Jim Rogers Says: Buy Commodities Now, Or You'll Hate Yourself Later]. On the home front, weekly jobless claims came in better-than-expected; 377,000 people filed for unemployment benefits last week, beating the estimate of 380,000 as well as the previous reading of 389,000. Nonetheless, profit taking pressures kept a lid on gains after investors fretted over the fact that Chairman Bernanke said the Fed needs a more thorough economic review before pulling the stimulus trigger [see [...] Click here to read the original article on ETFdb.com. Related Posts: Daily ETF Roundup: UNG Pops Ahead Of Inventory Report, EWY Falls On Profit Taking Daily ETF Roundup: UNG Recovers On Weather Outlook, EWY Tumbles On Rate Hike Daily ETF Roundup: UNG Falls On EIA Storage Report, EWY Surges On Strong Data Daily ETF Roundup: UNG Tumbles On Storage Report, EWY Surges On Quake Rebuilding 101 ETF Lessons Every Financial Advisor Should Learn
Domestic equities broadly got off to a strong start only to fall victim to profit taking pressures in the final hours of trading. Stimulus hopes and employment data paved the way for back-and-forth trading for major equity indexes on the home front; the Dow Jones Industrial Average managed to clinch a gain of 0.37% as the closing bell rang , while the Nasdaq and S&P 500 Index both finished the day with minor losses in red territory [see also Jim Rogers Says: Buy Commodities Now, Or You'll Hate Yourself Later].  On the home front, weekly jobless claims came in better-than-expected; 377,000 people filed for unemployment benefits last week, beating the estimate of 380,000 as well as the previous reading of 389,000. Nonetheless, profit taking pressures kept a lid on gains after investors fretted over the fact that Chairman Bernanke said the Fed needs a more thorough economic review before pulling the stimulus trigger [see [...]

Click here to read the original article on ETFdb.com.

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